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Sep 25, 2012 9:00am EDT
heavily than it's fallen on me. >> thank you very much. >> thank you. mr. ranger recognize. >> thank you, mr. chairman. i want to focus on jobs and how the whole tax discussion affects job creation. dr. mor ma, -- burma in your testimony, you talk about raising the capital gains tax in order to lower the income tax rates could help create jobs in the united states, and i know that some of my colleagues would have concerns that raising capital gains rate could discourage investment. could you tell me and the panel here a little more about your theory and do you have any rebottle -- rebuttal that raising the capital gains rate could discourage investment? >> thank you for the question. basic point is that differential between capital gains tax rates and ordinary tax rates -- unproductivity that makes the economy work more prorely than otherwise. the tax shelter. one argument people make for lower capital gains tax rate it encourages entrepreneurship, if you actually look at the incentive to start your own business, we've capital gains fully taxed, you have a very strong incentive to inves
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